Burj Vista takes top spot in earnings per day for one-bedroom apartments
GuestReady, a global Airbnb management company, updated the original Monopoly board game to show Dubai property investors how much they can earn per day by listing on short-term rental platforms.
Burj Vista in Downtown Dubai occupies the most lucrative spot on the board, traditionally reserved for the dark blue Mayfair in the original UK version. Owners can earn an average of AED600 ($163) per day for a one-bedroom apartment. While The Greens has the lowest return, at AED375, and takes the brown position of Old Kent Road on the board.
“Just like in monopoly, hotel developments in Dubai have been attributed to be the main cause of the city’s high rental rates on Airbnb,” said Reem Al-Khatib, Dubai city manager at GuestReady.
The fifth most expensive Airbnb city in the world, Dubai enjoys an average daily rate (ADR) of AED679 ($185) according to Bloomberg’s Index. The figure takes into account every single Dubai listing on Airbnb, from a one-bedroom flat to a 12-bedroom house.
In the run-up to Expo 2020 Dubai, the emirate’s tourism market is expected to see an increase in demand for short-term rentals. With 61 percent of hotels in Dubai carrying 4-stars; holidaymakers, business travellers and expats are turning towards short-term rentals for more space, privacy and flexibility at a lower ADR than their hotel alternative.
Due to rising guest expectations, Airbnb hosts increasingly engage short-term rental management companies such as GuestReady to take care of their properties.